Title of article
Dynamicmonetary–fiscalinteractionsandtheroleof monetary conservatism
Author/Authors
Stefan Niemann، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2011
Pages
14
From page
234
To page
247
Abstract
Assumingthatmacroeconomicpoliciesaredirectedbydistinctmonetaryandfiscal
policymakerswhocannotcommittofutureactions,wereassesstheimplicationsof
monetaryconservatismandfiscalimpatienceinasettingwithnominalgovernment
debt.Forenvironmentswhereanon-negativesteadystatelevelofgovernmentdebt
(assets)emergesintheabsenceofconservatismandimpatience,monetaryconserva-
tism inducesaccumulationofahigherstockofliabilities(assets)andhasadverse
(positive)welfareimplications.Thisresultobtainsirrespectivelyofthedegreeoffiscal
impatienceandquestionstheunambiguousdesirabilityofmonetaryconservatism
traditionallyfoundintheliterature
Journal title
Journal of Monetary Economics
Serial Year
2011
Journal title
Journal of Monetary Economics
Record number
846468
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